Latest News Release from GW Pharmaceuticals plc
28 April 2015
GW Pharmaceuticals plc announces pricing of U.S. Public Offering of ADSs Raising $179.2 Million on NASDAQ Global Market
London, UK, 28 April 2015: GW Pharmaceuticals plc (Nasdaq: GWPH, AIM: GWP, "GW" or the “Company”), a biopharmaceutical company focused on discovering, developing and commercializing novel therapeutics from its proprietary cannabinoid product platform, announced today the pricing of an underwritten public offering by the Company. GW will issue 1,600,000 American Depositary Shares (“ADSs”), representing 19,200,000 ordinary shares of GW, at a price to the public of $112.00 per ADS on the NASDAQ Global Market, raising gross proceeds of approximately $179.2 million (before deducting underwriting discount, commissions and offering expenses). GW has granted the underwriters a 30-day option to purchase up to an additional 240,000 ADSs at the public offering price less the underwriting discount. Closing of the offering is expected to occur on May 5, 2015.
Morgan Stanley, BofA Merrill Lynch and Cowen and Company are acting as joint book-running managers for the offering.Piper Jaffray & Co. is acting as lead manager.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
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